FOX is reportedly in talks to acquire the free streaming service Tubi for $500 million, according to a report from Wall Street Journal. The reported said the information came from anonymous sources.
It’s not surprising to see interest in buying this free service, as Tubi recently reported that the company is growing faster than ever. At the end of 2019, Tubi had 25 million active users with 163 million hours watched—a 160% jump over 2018.
“Our growth over the last year is a clear testament to the success of our focused strategy in a now-cluttered marketplace,” said Farhad Massoudi, CEO of Tubi at the time the numbers were announced. “We’re excited people globally have embraced Tubi as a complement to subscription video and aim to deliver an even larger library of premium content in 2020.”
Like many other free streaming services, Tubi is ad-supported and generates its content library by curating content from around the web and from partnerships. Tubi’s partners include Warner Bros., Paramount, Lionsgate and NBCUniversal, among others.
Tubi and FOX had declined to comment at the time the WSJ report was published.
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